Current through Register Vol. 24, December 20, 2024
(1) Each
taxpayer is allowed one personal exemption for himself or herself. If the
taxpayer is age 65 or older by the close of their tax year, they are entitled
to an additional personal exemption. If the taxpayer is blind, as provided in
15-30-2114, MCA, at the close of
their tax year, they are entitled to an additional personal exemption. The
additional exemptions are cumulative and a taxpayer who is at least 65 years
old and blind by the close of the tax year is allowed three personal
exemptions.
(2) The following
provisions apply to the personal exemptions of married persons:
(a) a married taxpayer filing a separate
return whose spouse, for the calendar year in which the tax year of the
taxpayer begins, has no gross income and is not a dependent of another
taxpayer, is allowed the following additional personal exemptions:
(i) one additional exemption for their
spouse;
(ii) another additional
exemption if their spouse is 65 years or older at the close of the taxpayer's
tax year; and
(iii) another
additional exemption if their spouse is blind at the close the taxpayer's tax
year or, if the spouse dies before the end of the tax year, is blind at the
spouse's date of death;
(b) as provided in (1), married taxpayers
filing a joint return are allowed two personal exemptions in computing their
joint taxable income; and
(c) if a
joint return is made by married taxpayers, no other person may claim an
exemption for either spouse even if the spouse is the other person's dependent
for whom a dependent exemption would otherwise be allowed as provided in ARM
42.15.403.
(3) An individual attains the age of 65 on
the first moment of the day preceding their 65th birthday. Accordingly, a
person whose birthday falls on January 1 attains the age of 65 on December 31
of the immediately preceding calendar year.
(4) The amount allowed as a personal
exemption is as follows:
(a) For all tax
years, the amount of the personal exemption, as adjusted for inflation for
recent tax years, can be obtained by accessing past-year downloadable tax forms
from the department's internet homepage web site located at: revenue.mt.gov;
and
(b) for tax years beginning
after December 31, 2004, the personal exemption is $1,900, adjusted annually
for inflation by November 1 of each year as provided in
15-30-2114, MCA (effective January
1, 2005).
15-30-2620, MCA; IMP,
15-30-2114,
MCA;
